Funding arb · Price arb /

XMR

all XMR markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0742%/8h= +81.3% APRpaid last 24h +0.191%

Price spread now: GMX against Binance−0.462%50s7-day average −0.193% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.350%+$35 on $10k

Price spread, last 4 days (all we have)+0.291%+$29 · spread now −0.462%, 7d avg −0.193%

Together, before fees+0.640%+$64 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.269% cheaper against Binance than usual: you would sell low and buy high (spread −0.462% now, against its 7-day average of −0.193%). If the spread goes back, that is −$27 on $10k: about 29 hours of funding at the current rate (+$22 a day). At the pace of the last 3 days (+0.350% in total) that is about 2.6 days. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XMRUSDT	576.57	0.0512	pay 0.0512% / 8h	3h 59m	$52.7M	$164.2M	75x
Short	GMX XMR/USD [WBTC.b-USDC]	573.90	L +0.0989% / S −0.1254%	get 0.0157% / 1h	59m 29s	$591K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BinancebpFee GMXbpOrdersPrice spread, now −0.462%Rate

Funding earned: $155.86
Price spread: −0.462% → −0.193%: −$26.92
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $106.94
Costs to cover: 0.220%
Break-even: 2.2 days

Slippage unknown: Binance: live order book, 14 min ago; GMX: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Binance live order book, 14 min ago	0.09 bp	10.7 bp −$11	26.4 bp −$264	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XMR on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XMR/USDC PERP	−0.0136%	1h	582.55	+1.037%	$3K	$3K	12x	as long as short
gTrade (Gains Network) XMR/USD	L +0.0010% / S −0.0008%	1h	575.16	−0.244%	$50K	—	150x	as long as short
Lighter XMR	+0.0096%	1h	575.24	−0.231%	$3.2M	$7.5M	10x	as long as short
edgeX XMRUSDC	+0.0100%	4h	576.86	+0.050%	$1.0M	$653K	10x	as long as short
SunX XMR-USDT	+0.0100%	8h	574.70	−0.324%	$2K	$1.9M	20x	as long as short
HTX XMR-USDT	+0.0100%	8h	575.58	−0.171%	$1.1M	$1.6M	20x	as long as short
Kraken Futures PF_XMRUSD	+0.0149%	1h	573.74	−0.491%	$5.4M	$19.5M	50x	as long as short
Aevo XMR-PERP	+0.0208%	1h	575.55	−0.177%	$12K	—	3x	as long as short
dYdX XMR-USD	+0.0305%	1h	574.16	−0.417%	$104K	$44K	5x	as long as short
KuCoin XMRUSDTM	+0.0392%	8h	575.31	−0.218%	$45.0M	$26.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XMR_USDT	+0.0442%	8h	576.29	−0.048%	$1.6M	$4.5M	50x	as long as short
Bybit XMRUSDT	+0.0468%	8h	576.63	+0.011%	$47.0M	$64.4M	75x	as long as short
BingX XMR-USDT	+0.0488%	8h	576.62	+0.009%	—	$5.7M	—	as long as short
MEXC XMR_USDT	+0.0512%	8h	576.59	+0.004%	$20.2M	$14.7M	100x	as long as short
Binance XMRUSDTlong	+0.0512%	8h	576.57	long leg	$52.7M	$164.2M	75x
Bitget XMRUSDT	+0.0513%	8h	576.28	−0.050%	$9.4M	$13.8M	50x	as long as short
Backpack XMR_USDC_PERP	+0.0596%	1h	574.51	−0.357%	$169K	$534K	20x	as long as short
Pacifica XMR	+0.0626%	1h	575.68	−0.155%	$266K	$1.0M	10x	as long as short
Aster XMRUSDT	+0.0684%	8h	575.09	−0.257%	$638K	$2.3M	75x	as long as short
Nado XMR-PERP	+0.0686%	1h	576.46	−0.018%	$1.3M	$460K	10x	as long as short
Extended XMR-USD	+0.0744%	1h	576.55	−0.002%	$3.1M	$8.4M	25x	as long as short
BloFin XMR-USDT	+0.0823%	8h	575.79	−0.135%	$2.7M	$11.2M	75x	as long as short
GRVT XMR_USDT_Perp	+0.0904%	8h	577.83	+0.219%	$346K	$733K	10x	as long as short
Paradex XMR-USD-PERP	+0.0921%	8h	576.60	+0.005%	$8K	$4K	20x	as long as short
GMX XMR/USD [WBTC.b-USDC]short	L +0.0989% / S −0.1254%	1h	573.90	−0.462%	$591K	—	100x
Variational Omni XMR	+0.1050%	8h	576.81	+0.043%	$6.6M	$2.2M	—	as long as short
Orderly PERP_XMR_USDC	+0.1127%	8h	575.19	−0.239%	$40K	$735K	10x	as long as short
Polymarket Perps XMR-USD	+0.1185%	1h	576.22	−0.060%	$25K	$2.2M	5x	as long as short
Hyperliquid XMR	+0.1201%	1h	576.36	−0.036%	$86.7M	$71.1M	5x	as long as short
SoDEX XMR-USD	+0.1301%	1h	575.39	−0.204%	$437K	$3K	5x	as long as short
Aftermath Perps XMRUSD	+0.1926%	1h	576.24	−0.056%	$1K	$44K	10x	as long as short